First Amendment To Credit Agreement - COPANO ENERGY, L.L.C. - 5-10-2006 by CPNO-Agreements

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                                                                                                     Exhibit 10.2 

                               FIRST AMENDMENT TO CREDIT AGREEMENT
     THIS FIRST AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) dated as of the 26th day of
January, 2006, by and among COPANO ENERGY, L.L.C. (“Borrower”), BANK OF AMERICA, N.A., as
Administrative Agent, and the Lenders party hereto.

                                               W I T N E S S E T H:
     WHEREAS, Borrower, Administrative Agent and Lenders named therein entered into that certain Credit 
Agreement dated as of August 1, 2005 (the “Original Agreement”) for the purposes and consideration therein
expressed; and
     WHEREAS, Borrower, Administrative Agent and Lenders desire to amend the Original Agreement for the 
purposes described herein;
     NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements contained 
herein and in the Original Agreement, and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties hereto do hereby agree as follows:

                                    ARTICLE I. — Definitions and References
     § 1.1. Terms Defined in the Original Agreement . Unless the context otherwise requires or unless otherwise
expressly defined herein, the terms defined in the Original Agreement shall have the same meanings whenever
used in this Amendment.
     § 1.2. Other Defined Terms . Unless the context otherwise requires, the following terms when used in this
Amendment shall have the meanings assigned to them in this § 1.2. 
          “ Amendment ” means this First Amendment to Credit Agreement.
          “ Credit Agreement ” means the Original Agreement as amended hereby.

                                           ARTICLE II. — Amendments
     § 2.1. Indebtedness . Section 7.03(b) of the Original Agreement is hereby amended to read as follows: 
          (b) unsecured Indebtedness under the Senior Bridge Facility (or any unsecured refinancing or replacement 
     thereof with a maturity not earlier than 91 days after the Maturity Date and on terms and conditions not 
     materially more restrictive than the Loan Documents taken as a whole);
     § 2.2. Hedging Contracts . The references to “an Approved Counterparty” in Section 7.12(a)(iii) and
Section 7.12(b) of the Original Agreement are hereby amended to refer instead to “a Lender Counterparty or an
Approved Counterparty”.
     § 2.3. Burdensome Agreements . Section 7.09(b) of the Original Agreement is hereby amended in its entirety 
to read as follows:

                                                         1
  

          (b) requires the grant of a Lien to secure an obligation of such Person if a Lien is granted to secure another 
     obligation of such Person, unless such Contractual Obligation provides that such requirement shall not apply
     with respect to Liens granted to secure the Obligations.

                                     ARTICLE III. — Conditions of Effectiveness
     § 3.1. Effective Date . This Amendment shall become effective as of the date first written above, when and
only when
          (i) Administrative Agent shall have received, at Administrative Agent’s office a counterpart of this
     Amendment executed and delivered by Borrower and Required Lenders;
          (ii) Administrative Agent shall have additionally received all of the following documents, each document 
     (unless otherwise indicated) being dated the date of receipt thereof by Administrative Agent, duly authorized,
     executed and delivered, and in form and substance satisfactory to Administrative Agent:
       Supporting Documents . Such supporting documents as Administrative Agent may reasonably request.

                                  ARTICLE IV. — Representations and Warranties
     § 4.1. Representations and Warranties of Borrower . In order to induce Administrative Agent and Lenders to
enter into this Amendment, Borrower represents and warrants to Administrative Agent and each Lender that:
     (a) The representations and warranties of the Borrower and each other Loan Party contained in Article V of
the Credit Agreement or any other Loan Document are true and correct in all material respects on and as of the
date hereof, except to the extent that such representations and warranties specifically refer to an earlier date, in
which case they are true and correct as of such earlier date, and except that for purposes of this Section 4.1(a), 
the representations and warranties contained in subsections (a) and (b) of Section 5.05 of the Credit Agreement
are deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of 
Section 6.01 of the Credit Agreement.
     (b) No Default exists. 
     (c) No Material Adverse Effect has occurred, and no event or circumstance has occurred that could 
reasonably be expected to cause a Material Adverse Effect, relating to the consolidated financial condition or
business of the Loan Parties since the date of the date of the most recent financial statements delivered pursuant
to Section 4.01(a)(viii) or Section 6.01 of the Credit Agreement, as applicable.
     (d) Each Loan Party is Solvent. 
     (e) The execution, delivery and performance by each Loan Party of this Amendment has been duly authorized 
by all necessary corporate or other organizational action, and do not and will not (a) contravene the terms of any
of such Person’s Organization Documents; (b)

                                                            2
  

conflict with or result in any breach or contravention of, or the creation of any Lien under, or require any payment
to be made under (i) any Contractual Obligation to which such Person is a party or affecting such Person or the 
properties of such Person or any of its Restricted Subsidiaries or (ii) any order, injunction, writ or decree of any 
Governmental Authority or any arbitral award to which such Person or its property is subject; or (c) violate any 
Law.
     (f) No approval, consent, exemption, authorization, or other action by, or notice to, or filing with, any 
Governmental Authority or any other Person is necessary or required in connection with the execution, delivery
or performance by, or enforcement against, any Loan Party of this Amendment.
     (g) This Amendment has been duly executed and delivered by each Loan Party that is party hereto. This 
Amendment constitutes a legal, valid and binding obligation of such Loan Party, enforceable against each Loan
Party that is party hereto in accordance with its terms, subject to applicable bankruptcy, insolvency,
reorganization, moratorium or other Laws affecting creditors’ rights generally and subject to general principles of
equity, regardless of whether considered in a proceeding in equity or at Law.

                                          ARTICLE V. — Miscellaneous
     § 5.1. Ratification of Agreements . The Original Agreement, as hereby amended, is hereby ratified and
confirmed in all respects. The Loan Documents, as they may be amended or affected by this Amendment, are
hereby ratified and confirmed in all respects by Borrower and each Loan Party that is party hereto. Any
reference to the Credit Agreement in any Loan Document shall be deemed to refer to this Amendment also. The
execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate
as a waiver of any right, power or remedy of Administrative Agent or any Lender under the Credit Agreement or
any other Loan Document nor constitute a waiver of any provision of the Credit Agreement or any other Loan
Document.
     § 5.2. Ratification of Security Documents . Each Loan Party, Administrative Agent, and Lenders each
acknowledge and agree that any and all indebtedness, liabilities or obligations, arising under or in connection with
the Loans, Letters of Credit or the Notes, are Obligations and are secured indebtedness under, are guarantied
by, and are secured by, each and every Security Document. Each Loan Party hereby re-pledges, re-grants and
re-assigns a security interest in and lien on every asset of such Loan Party described as Collateral in any Security
Document.
     § 5.3. Survival of Agreements . All representations, warranties, covenants and agreements of Loan Parties
shall survive the execution and delivery of this Amendment and the performance hereof, including without
limitation the making or granting of each Loan, and shall further survive until all of the Obligations under the Credit
Agreement are paid in full. All statements and agreements contained in any certificate or instrument delivered by
any Loan Party hereunder or under the Credit Agreement to Administrative Agent or any Lender shall be
deemed to constitute representations and warranties by, or agreements and covenants of, Borrower under this
Amendment and under the Credit Agreement.
     § 5.4. Loan Documents . This Amendment is a Loan Document, and all provisions in the Credit Agreement
pertaining to Loan Documents apply hereto.

                                                          3
  

      § 5.5. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK AND ANY
APPLICABLE LAWS OF THE UNITED STATES OF AMERICA IN ALL RESPECTS,
INCLUDING CONSTRUCTION, VALIDITY AND PERFORMANCE.
     § 5.6. Counterparts . This Amendment may be separately executed in counterparts and by the different
parties hereto in separate counterparts, each of which when so executed shall be deemed to constitute one and
the same Amendment. Delivery of an executed signature page by facsimile transmission shall be effective as
delivery of a manual executed counterpart.
     IN WITNESS WHEREOF, this Amendment is executed as of the date first above written. 
                                                                                                    
                                               COPANO ENERGY, L.L.C. ,   
                                               as Borrower
                                                                                                    
  
     
                                               By:  / S/ MATTHEW J. ASSIFF
                                                           
                                                                   
                                                                                   
                                                                                                    
                                                                                                      
                                                                                                              




                                               Name: Matthew J. Assiff                              
                                               Title:  Senior Vice President and                    
                                                       Chief Financial Officer                      

                                                                  4
  

                                               
         BANK OF AMERICA, N.A.,
         as Administrative Agent
                                               
  
     
         By:  / S/ TODD G. MACNEILL
             
                     
                                     
                                               
                                                 
                                                         




         Name: Todd G. MacNeill                
         Title:  Assistant Vice President      

                    5
  

                                           
         BANK OF AMERICA, N.A.,
         as a Lender and L/C Issuer
                                           
  
     
         By:  / S/ GREGORY B. HANSON
             
                     
                                     
                                           
                                             
                                                     




         Name: Gregory B. Hanson           
         Title:  Vice President            

                    6
  

                                                   
         COMERICA BANK ,
         as a Lender and Co-Syndication Agent
                                                   
  
     
         By:  / S/ HUMA VADGAMA
             
                     
                                     
                                                   
                                                     
                                                             




         Name: Huma Vadgama                        
         Title:  Vice President                    

                    7
  

                                                 
         U.S. BANK NATIONAL ASSOCIATION ,
         as a Lender and Co-Syndication Agent
                                                 
  
     
         By:  / S/ JUSTIN M. ALEXANDER
             
                     
                                             
                                                 
                                                 
                                                         




         Name: Justin M. Alexander               
         Title:  Vice President                  

                    8
  

                                                   
         BANK OF SCOTLAND ,
         as a Lender and Co-Documentation Agent
                                                   
  
     
         By:  / S/ KAREN WEICH
             
                     
                                     
                                                   
                                                      
                                                              




         Name: Karen Weich                         
         Title:  Assistant Vice President          

                    9
  

                                                   
         FORTIS CAPITAL CORP. ,
         as a Lender and Co-Documentation Agent
                                                   
  
     
         By:  / S/ DARRELL HOLLEY
             
                     
                                     
                                                   
                                                      
                                                              




         Name: Darrell Holley                      
         Title:  Managing Director                 
                                                   
  
     
         By:  / S/ CASEY LOWARY
             
                     
                                     
                                                   
                                                      
                                                              




         Name: Casey Lowary                        
         Title:  Senor Vice President              

             10
  

                                          
         ROYAL BANK OF CANADA , as a Lender
                                          
  
     
         By:  / S/ JASON YORK
             
                     
                                     
                                          
                                             
                                                     




         Name: Jason York                 
         Title:  Attorney-In-Fact         

             11
  

                                        
         HARRIS NESBITT FINANCING, INC. ,
         as a Lender
                                        
  
     
         By:  / S/ CAHAL B. CARMODY
             
                     
                                     
                                             
                                                     




         Name: Cahal B. Carmody         
         Title:  Vice President         

             12
  

                                         
         GOLDMAN SACHS CREDIT PARTNERS L.P.,
         as a Lender
                                         
  
     
         By:  / S/ PEDRO RAMIREZ
             
                     
                                     
                                         
                                             
                                                     




         Name: Pedro Ramirez             
         Title:  Authorized Signatory    

             13
  

                                      
         AMEGY BANK NATIONAL ASSOCIATION ,
         as a Lender
                                      
  
     
         By:  / S/ MARK A. SERICE
             
                     
                                 
                                      
                                             
                                                     




         Name: Mark A. Serice         
         Title:  Vice President       

             14
  

                                     
         DEUTSCHE BANK TRUST COMPANY
         AMERICAS , as a Lender
                                     
  
     
         By:  / S/ SUSAN LEFEVRE
             
                     
                                 
                                     
                                             
                                                     




         Name: Susan Lefevre         
         Title:  Director            
                                     
  
     
         By:  / S/ LANA GIFAS
             
                     
                                 
                                     
                                             
                                                     




         Name: Lana Gifas            
         Title:  Vice President      

             15
  

                                       
         KEYBANK, NATIONAL ASSOCIATION ,
         as a Lender
                                       
  
     
         By:  / S/ THOMAS RAJAN
             
                     
                                 
                                       
                                             
                                                     




         Name: Thomas Rajan            
         Title:  Vice President        

             16
  

                                                
         BANK OF TEXAS, N.A. , as a Lender
                                                
  
     
         By:  / S/ MARI SALAZAR
             
                     
                                     
                                                
                                                  
                                                          




         Name: Mari Salazar                     
         Title:  Assistant Vice President       

             17
  

                                             
         NATEXIS BANQUES POPULAIRES ,
         as a Lender
                                             
  
     
         By:  / S/ LOUIS P. LAVILLE, III
             
                     
                                     
                                             
                                                
                                                        




         Name: Louis P. Laville, III         
         Title:  Vice President / Manager    
                                             
  
     
         By:  / S/ DANIEL PAYER
             
                     
                                     
                                             
                                                
                                                        




         Name: Daniel Payer                  
         Title:  Vice President              

             18
  

                                            
         STERLING BANK, as a Lender
                                            
  
     
         By:  / S/ JEFF A. FORBIS
             
                     
                                     
                                            
                                              
                                                      




         Name: Jeff A. Forbis               
         Title:  Senior Vice President      

             19
  

                                            
         WELLS FARGO BANK, N.A. , as a Lender
                                            
  
     
         By:  / S/ ANDREW J. WATSON
             
                     
                                     
                                            
                                              
                                                      




         Name: Andrew J. Watson             
         Title:  Vice President             

             20
  


                                       CONSENT OF GUARANTORS
Each of the undersigned Guarantors hereby consents to the provisions of this Amendment and the transactions
contemplated herein and therein and hereby (i) ratifies, confirms and approves the Credit Agreement, the 
Amendment, the Guaranty and the other Loan Documents and, in particular, any provisions thereof which relate
to such Guarantor, (ii) acknowledges and agrees that any and all indebtedness, liabilities or obligations arising 
under or in connection with the Credit Agreement and the Notes are Obligations and are guarantied indebtedness
under the Guaranty and are secured indebtedness under, and are secured by each and every Security Document,
(iii) ratifies and confirms the Guaranty and each Security Document to which it is a party, (iv) expressly 
acknowledges and agrees that such Guarantor guarantees all Obligations arising under or in connection with the
Credit Agreement and the Notes pursuant to the terms of the Guaranty, and hereby re-pledges, re-grants and re-
assigns a security interest in and lien on every asset of such Guarantor described as Collateral in any Security
Document to secure all such Obligations, and (v) agrees that its obligations and covenants under the Guaranty
and each Security Document to which it is a party are unimpaired hereby and shall remain in full force and effect.
                                                                                                                  
                                                        ScissorTail Energy, LLC                                   
                                                        Copano Energy/Rocky Mountains and Mid-                    
                                                        Continent, L.L.C.                                      
                                                        Copano Processing GP, L.L.C.                              
                                                        Copano NGL Services GP, L.L.C.                            
                                                        Copano Field Services GP L.L.C.                           
                                                        Copano Pipelines GP, L.L.C.                               
                                                        Copano Pipelines, (Texas) GP, L.L.C.                      
                                                        Copano Energy Services GP, L.L.C.                         
                                                        Copano Energy Services (Texas) GP, L.L.C.                 
                                                        Copano Field Services/Central Gulf Coast GP,              
                                                        L.L.C.                                                 
                                                        Copano/Webb-Duval Pipeline GP, L.L.C.                     
                                                        CPNO Services GP, L.L.C.                                  
                                                        Copano Energy Finance Corporation                         
                                                                                                                  
  
     
                                                    
                                                        By: / S/ MATTHEW J. ASSIFF
                                                        
                                                                
                                                                                                           
                                                                                                                  
                                                                                                               
                                                                                                                       




                                                            Matthew J. Assiff                                     
                                                            Senior Vice President and Chief Financial Officer    
                                                                                                                  
                                                        Copano Processing, L.P.                                   
                                                        By: Copano Processing GP, L.L.C., General Partner     
                                                                                                                  
  
     
                                                    
                                                        By: / S/ MATTHEW J. ASSIFF
                                                        
                                                                
                                                                                                           
                                                                                                                  
                                                                                                               
                                                                                                                       




                                                            Matthew J. Assiff                                     
                                                            Senior Vice President and Chief Financial Officer    
                                                                                                                  
                                                        Copano NGL Services, L.P.                                 
                                                        By: Copano NGL Services GP, L.L.C., General               
                                                        Partner                                                
                                                                                                                  
  
     
                                                    
                                                        By: / S/ MATTHEW J. ASSIFF
                                                        
                                                                
                                                                                                           
                                                                                                                  
                                                                                                               
                                                                                                                       




                                                            Matthew J. Assiff                                     
                                                            Senior Vice President and Chief Financial Officer    

                                                                       21
  

                                                                   
          Copano Houston Central, L.L.C.                           
          CHC LP Holdings, L.L.C.                                  
          Copano Pipelines Group, L.L.C.                           
          Copano General Partners, Inc.                            
          CPG LP Holdings, L.L.C.                                  
          CWDPL LP Holdings, L.L.C.                                
          CPNO Services LP Holdings, L.L.C.                        
                                                                   
  
     
          By: / S/ SUSAN T. DUBB
             
                     
                                     
                                                                   
                                                                     
                                                                             




              Susan T. Dubb                                        
              Vice President and Assistant Secretary               
                                                                   
          Copano Field Services/Agua Dulce, L.P.                   
          Copano Field Services/Copano Bay, L.P.                   
          Copano Field Services/Karnes, L.P.                       
          Copano Field Services/Live Oak, L.P.                     
          Copano Field Services/South Texas, L.P.                  
          Copano Field Services/Upper Gulf Coast, L.P.             
          By: Copano Field Services GP L.L.C., General             
          Partner                                               
                                                                   
  
     
          By: / S/ MATTHEW J. ASSIFF
             
                     
                                     
                                                                   
                                                                     
                                                                             




              Matthew J. Assiff                                    
              Senior Vice President and Chief Financial Officer    
                                                                   
          Copano Pipelines/Hebbronville, L.P.                      
          Copano Pipelines/South Texas, L.P.                       
          Copano Pipelines/Upper Gulf Coast, L.P.                  
          By: Copano Pipelines GP, L.L.C., General Partner     
                                                                   
  
     
          By: / S/ MATTHEW J. ASSIFF
             
                     
                                     
                                                                   
                                                                     
                                                                             




              Matthew J. Assiff                                    
              Senior Vice President and Chief Financial Officer    
                                                                   
          Copano Pipelines/Texas Gulf Coast, L.P.                  
          By: Copano Pipelines, (Texas) GP, L.L.C., General   
          Partner                                               
                                                                   
  
     
          By: / S/ MATTHEW J. ASSIFF
             
                     
                                     
                                                                   
                                                                     
                                                                             




              Matthew J. Assiff                                    
              Senior Vice President and Chief Financial Officer    
                                                                   
          Copano Field Services/Central Gulf Coast, L.P.           
          By: Copano Field Services/Central Gulf Coast GP,   
          L.L.C., General
                 Partner                                        
                                                                   
  
     
          By: / S/ MATTHEW J. ASSIFF
             
                     
                                     
                                                                   
                                                                     
                                                                             




              Matthew J. Assiff                                    
              Senior Vice President and Chief Financial Officer    

                            22
  

                                                                   
          Copano Energy Services/Upper Gulf Coast, L.P.            
          By: Copano Energy Services GP, L.L.C., General           
          Partner                                               
                                                                   
  
     
          By: / S/ MATTHEW J. ASSIFF
             
                     
                                     
                                                                   
                                                                     
                                                                             




              Matthew J. Assiff                                    
              Senior Vice President and Chief Financial Officer    
                                                                   
          Copano Energy Services/Texas Gulf Coast, L.P.            
          By: Copano Energy Services (Texas) GP, L.L.C.,           
          General Partner                                       
                                                                   
  
     
          By: / S/ MATTHEW J. ASSIFF
             
                     
                                     
                                                                   
                                                                     
                                                                             




              Matthew J. Assiff                                    
              Senior Vice President and Chief Financial Officer    
                                                                   
          Copano/Webb Duval Pipeline, L.P.                         
          By: Copano/Webb-Duval Pipeline GP, L.L.C.,               
          General Partner                                       
                                                                   
  
     
          By: / S/ MATTHEW J. ASSIFF
             
                     
                                     
                                                                   
                                                                     
                                                                             




              Matthew J. Assiff                                    
              Senior Vice President and Chief Financial Officer    
                                                                   
          CPNO Services, L.P.                                      
          Copano Risk Management, L.P.                             
          By: CPNO Services GP, L.L.C., General Partner     
                                                                   
  
     
          By: / S/ MATTHEW J. ASSIFF
             
                     
                                     
                                                                   
                                                                     
                                                                             




              Matthew J. Assiff                                    
              Senior Vice President and Chief Financial Officer    

                            23
r obligations arising  under or in connection with the Credit Agreement and the Notes are Obligations and are guarantied indebtedness under the Guaranty and are secured indebtedness under, and are secured by each and every Security Document, (iii) ratifies and confirms the Guaranty and each Security Document to which it is a party, (iv) expressly  acknowledges and agrees that such Guarantor guarantees all Obligations arising under or in connection with the Credit Agreement and the Notes pursuant to the terms of the Guaranty, and hereby re-pledges, re-grants and reassigns a security interest in and lien on every asset of such Guarantor described as Collateral in any Security Document to secure all such Obligations, and (v) agrees that its obligations and covenants under the Guaranty and each Security Document to which it is a party are unimpaired hereby and shall remain in full force and effect.                       ScissorTail Energy, LLC      Copano Energy/Rocky Mountains and Mid        Continent, L.L.C.   Copano Processing GP, L.L.C.              Copano NGL Services GP, L.L.C.     

                      By: / S/ MATTHEW J. ASSIFF            Matthew J. Assiff            Senior Vice President and Chief Financial Officer                            By: Copano Processing GP, L.L.C., General Partner              
                       

              
   

  

                    
   

Senior Vice President and Chief Financial Officer                   Copano NGL Services, L.P.      By: Copano NGL Services GP, L.L.C., General      Partner                   By: / S/ MATTHEW J. ASSIFF          Matthew J. Assiff            Senior Vice President and Chief Financial Officer    
                   

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         By: / S/ SUSAN T. DUBB       Susan T. Dubb       Vice President and Assistant Secretary
               

                
       

  

 

 
       

                                   
   

  By: / / MATTHEW J. ASSIFF             Senior Vice President and Chief Financial Officer                     Copano Pipelines/Hebbronville, L.P.               Copano Pipelines/Upper Gulf Coast, L.P.        By: Copano Pipelines GP, L.L.C., General Partner                    / S/ MATTHEW J. ASSIFF            Matthew J. Assiff            Senior Vice President and Chief Financial Officer                     Copano Pipelines/Texas Gulf Coast, L.P.   
                                       

Partner
ATTHEW J. A

  
   

                  Matthew J. Assiff         Senior Vice President and Chief Financial Officer    
                       

     

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           Copano Energy Services/Upper Gulf Coast, L.P.   Partner              Matthew J. Assiff       

                   
       

    

  
   

           By: / S/ MATTHEW J. ASSIFF
       

         

                          
   

       Copano/Webb Duval Pipeline, L.P.      By: Copano/Webb-Duval Pipeline GP, L.L.C.,      General Partner                   By: / S/ MATTHEW J. ASSIFF            Matthew J. Assiff            Senior Vice President and Chief Financial Officer                     CPNO Services, L.P.        Copano Risk Management, L.P.      By: CPNO Services GP, L.L.C., General Partner     
                       

ATTHEW J. ASSIFF
                   

     

      Matthew J. Assiff

         
       

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